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China’S Imported Wines Volumes: Steady Recovery Expected From Now To August

zhongcanyijiu.com.cn by 12/06/2020  

Good news from a survey conducted by the WBO (Wine Business Observatory), the leading wine trade media and integrating platform, at the end of May. Importers, experts and distributors surveyed already see day by day improvements in wine sales after the imported wines plummeted in April. Gong Rui, for example, who is the general manager of Nanning Zhongshi Import and Export Company, told WBO that improvement will be seen “in month-on-month import and volume figures”. Although an improvement is already expected for June, a significant recovery of the imported wines is expected to appear in the Chinese Customs statistics possibly in July but definitely in August.

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The disastrous drop of wine import in April have been the result of many factors, but it was mainly caused by the wait-and see attitude of many importers back in February and March, when the Covid-19 pandemic and the related lockdown were at their peak. As Liu Fengwei, President of Huaya Wine, told WBO importers are still cautious since in “the past few months have consumed a lot of corporate cash”, but they are now less pessimistic. That’s why according Wu Hao, general manager of Yimai International Wines, “the import value and volume will improve in July and August as the recovery has started in March and April, but the market has picked up significantly in May”. Some of the interviewed operators, as Hong Jieyu, the founder of Qingdao’s Sparkling World, foresee the rebound of the import from the end of June and continuing for all the year with “the arrival of traditional festivities in the second half of the year and with overseas wineries fully back at work”